The Fishermans Bend urban renewal project is one of the key reasons Melbourne has been named as one of the top investment spots in the world in a new report.
Knight Frank’s 2017 Wealth Report listed Melbourne alongside Austin, New Mexico, Amsterdam, Berlin and Bengalaru as cities with exciting opportunities for private property investors.
The report says Melbourne is attractive to investors because of population growth predictions, increasing numbers of workers based in the inner-city and high liveability ratings.
“[The seven cities] are leading the way in developing a compelling mix of education, lifestyle, infrastructure, technology and real estate and, in the process, becoming the kind of vibrant, attractive locations where people want to work, shop, play and live,” the report states.
The report cites Fishermans Bend as a contributing factor that’s adding to inner-city living and office supply.
Urban development projects like Fishermans Bend offer investment opportunities diverse and large enough to attract large investors according to the Knight Frank report.
The development is projected to cover 450 hectares and will house around 80,000 residents and will boast around 60,000 workers by 2046.
Australia as a whole was named as the eighth highest most likely country to attract private investors.